Top 4 Business Analytics Techniques Companies Need to Adopt

Treehouse Technology Group

There are four important techniques in business analytics that correspond to the different stages of maturity in the analytics lifecycle. Most organizations start their analytics journey by asking ‘what has happened’.

Prescriptive Analytics: An Introduction

Jen Underwood

Where descriptive analytics reveals what has happened in the past, prescriptive analytics delivers insight into optimizing future decisions. As data-driven organizations mature, they will begin to apply prescriptive analytics. Tableau Excel BI & Analytics Prescriptive Analytics Qlikby Jen Underwood. Read More.

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Why is AI the Future of Business Intelligence

DataFloq

Over the past few years, BI software has evolved into three essential areas, namely Descriptive analytics, Predictive Analytics, and Prescriptive analytics. Data is at the core of nearly every business that helps you understand and improve business processes. In this modern era ruled by data, AI is evolving into a significant driver that shapes the day-to-day business process and Business Intelligence decision making.

Seven Steps to Success for Predictive Analytics in Financial Services

Birst BI

Fortunately, advances in analytic technology have made the ability to see reliably into the future a reality. Today, the most common usage of business intelligence is for the production of descriptive analytics. . Descriptive Analytics: Valuable but limited insights into historical behavior. The vast majority of financial services companies use the data within their applications for what is called “ Descriptive Analytics.”

Prescriptive Analytics – a Winning Bet for Casinos

BizAcuity

This is what makes the casino industry a great use case for prescriptive analytics technologies and applications. The need for prescriptive analytics. Prescriptive analytics is the area of business analytics (BA) dedicated to finding the best course of action for a given situation. By banking on prescriptive analytics, casinos can not only prepare and plan to take make the most of future opportunities but also avoid and tackle any impending risks and problems.

4 imperatives for making business intelligence work

O'Reilly on Data

Create a coherent BI strategy that aligns data collection and analytics with the general business strategy. The business intelligence (BI) and data science industries have spent the last couple decades making data access easier, analytic capability more comprehensive, and platforms more scalable. To achieve the results that leaders are looking for, organizations must create a coherent BI strategy that aligns data collection and analytics with the general business strategy.

Decide to Decide Digitally: New Forrester Research

Decision Management Solutions

Sometimes you need to do some basic analytics to find the right thresholds. Stop separating your operational systems from your analytic systems. Apply simple descriptive analytics to identify means, standard deviations and trends that you can encode in your rules.

Disrupt and Innovate in a Data-Driven World

Cloudera

The private sector already very successfully uses data analytics and machine learning not only to realise efficiency gains but also – even more importantly – to create completely new services and business models. In the nonprofit sector, early applications of data analytics and machine learning have mostly focused on improving fundraising and marketing. Gain improved intelligence on operating context and needs through expanded use of descriptive analytics techniques.

Prescriptive Analytics – a Winning Bet for Casinos

BizAcuity

This is what makes the casino industry a great use case for prescriptive analytics technologies and applications. The need for prescriptive analytics. Prescriptive analytics is the area of business analytics (BA) dedicated to finding the best course of action for a given situation. By banking on prescriptive analytics, casinos can not only prepare and plan to take make the most of future opportunities but also avoid and tackle any impending risks and problems.

Data Matters

Kirk Borne

Data can be used to build descriptive models (hindsight), or diagnostic models (oversight), or correlation-based predictive models (foresight), or causal prescriptive models (insight). Data matters also include workforce re-skilling, data and analytics strategies, development of a culture of data-sharing and experimentation with data, data literacy, and data- and evidence-based decision-making. b) Diagnostic Analytics – What is happening? Written by Dr. Kirk Borne.

Data Visualization and Visual Analytics: Seeing the World of Data

Sisense

Our BI Best Practices demystify the analytics world and empower you with actionable how-to guidance. Data visualization and visual analytics are two terms that come up a lot when new and experienced analytics users alike delve into the world of data in their quest to make smarter decisions. When BI and analytics users want to see analytics results, and learn from them quickly, they rely on data visualizations. The role of visualizations in analytics.

Using IBM Watson to Answer Two Important Questions about your Customers

Bob Hayes

IBM Watson Studio , an end-to-end analytics solution to help you gain insights from your data, was designed for data scientists, application developers and subject matter experts to collaboratively and easily work with data to build and train models at scale. IBM Watson Studio is an end-to-end analytics solution to help you gain insights from your data. Next, we can explore our data by calculating some descriptive statistics for our measures.

An Interview with a Data Scientist

Grooper

Once we have right data, we do some descriptive analytics which tells us column’s mean, median, mode, standard deviation, variance, bias, some skewness – how the data is spread. An interview with Pranshuk Kathed, machine and deep learning enthusiast. Data scientists are a precious resource, so I thought I'd ask some basic questions to try and shed a little light on the basics. I thought I'd bust some of the hype too, but - the hype is true. Questions?

Five Steps for Building a Successful BI Strategy

Sisense

And every business – regardless of the industry, product, or service – should have a data analytics tool driving their business. Our go-to approach for analytics that feeds well into a BI strategy is the Evolution of Analytics chart (below). Originating with Gartner, this chart includes the analytic features needed for a full analytics strategy, and what our AI team believe to be the absolute future of analytics – Cognitive Analytics. .

Themes and Conferences per Pacoid, Episode 10

Domino Data Lab

And by “scale” I’m referring to what is arguably the largest, most successful data analytics operation in the cloud of any public firm that isn’t a cloud provider. Daniel Kahneman @ #dominorev #rev2 #keynote #DataScience #data #AccuLogique #data4good #analytics #ThisIsNYC pic.twitter.com/hb7huNLgC4. Moving beyond introductions, i.e., the more descriptive and anecdotal aspects, Kahneman explored tools we can use to overcome the effects of cognitive bias.

What is predictive analytics?

Mixpanel on Data

Companies use predictive analytics to forecast future events based on past data. Predictive analytics involves data mining, statistics, and machine learning. The predictive analytics process. Like all analytical endeavors, prediction begins with planning. Teams scope out the needs of each business unit that’s involved, such as product, marketing, customer support, or analytics. ” Need help launching analytics? Predictive analytics challenges.

15 Analytics Capabilities to Consider When Choosing Your Next Big Data Solution

The Kini Group

You need analytics to make sense of everything. And analytics can never be a one-off project. Successful and practical analytics always answer a few paramount questions: What happened? There’s more to analytics than this, though. While every solution should roughly answer these questions, not every solution provides the other analytics capabilities you need. How to Choose the Right Analytics Capabilities. Explore Predictive Analytics.

Predictive Analytics: Your Gateway to the Future of Your Business

The Kini Group

They do this through the use of predictive analytics. The three most common and powerful ways to use predictive analytics are through price optimization, customer churn reduction, and share of wallet growth. Key Predictive Analytics Success Factors for Price Optimization. Use Predictive Analytics to Complement Human Judgment, Not Replace It. Your predictive analytics should never be a mystery. Key Predictive Analytics Success Factors for Customer Attrition.